KANZHUN (NASDAQ:BZ) Sets New 52-Week High - Time to Buy?

Key Points

• KANZHUN Limited (NASDAQ:BZ) has reached a new 52-week high with shares trading at $24.13, indicating strong market performance.
• Analysts are optimistic about KANZHUN, with UBS Group upgrading the stock to a "buy" rating and setting a target price of $26.00.
• The company announced a dividend of $0.084 per share, with a yield of 60.0%, payable on October 23rd to shareholders of record by October 8th.

KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $24.10 and last traded at $24.13, with a volume of 2510196 shares trading hands. The stock had previously closed at $23.73.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BZ. UBS Group raised KANZHUN from a "neutral" rating to a "buy" rating and set a $26.00 target price on the stock in a report on Thursday, August 21st. Zacks Research lowered KANZHUN from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 14th. Daiwa America raised KANZHUN from a "hold" rating to a "strong-buy" rating in a report on Monday, June 2nd. Barclays boosted their target price on KANZHUN from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Friday, August 22nd. Finally, Jefferies Financial Group boosted their target price on KANZHUN from $20.00 to $24.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, KANZHUN has an average rating of "Moderate Buy" and a consensus price target of $21.17.

KANZHUN Stock Up 1.5%

The company has a market cap of $9.88 billion, a price-to-earnings ratio of 35.96 and a beta of 0.44. The company has a fifty day simple moving average of $20.12 and a two-hundred day simple moving average of $18.13.

KANZHUN Dividend Announcement

The company also recently announced a full year 25 dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Wednesday, October 8th will be issued a $0.084 dividend. The ex-dividend date of this dividend is Wednesday, October 8th. This represents a yield of 60.0%.

Institutional Trading of KANZHUN

Several large investors have recently bought and sold shares of BZ. First Trust Advisors LP grew its holdings in KANZHUN by 7.7% in the fourth quarter. First Trust Advisors LP now owns 13,927 shares of the company's stock valued at $192,000 after purchasing an additional 999 shares during the last quarter. Voya Investment Management LLC lifted its position in shares of KANZHUN by 38.6% in the fourth quarter. Voya Investment Management LLC now owns 19,031 shares of the company's stock valued at $263,000 after acquiring an additional 5,302 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of KANZHUN in the fourth quarter valued at $160,000. Northern Trust Corp lifted its position in shares of KANZHUN by 197.6% in the fourth quarter. Northern Trust Corp now owns 1,242,384 shares of the company's stock valued at $17,145,000 after acquiring an additional 824,853 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of KANZHUN in the fourth quarter valued at $19,926,000. Institutional investors and hedge funds own 60.67% of the company's stock.

About KANZHUN

Kanzhun Limited, together with its subsidiaries, provides online recruitment services in the People's Republic of China. The company offers its recruitment services through a mobile app under the BOSS Zhipin brand name. Its services allow enterprise customers to access and interact with job seekers and manage their recruitment process.

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